The energy market is constantly transforming and advancing the way we use everyday products. Very soon, the internal combustion engines we’ve been accustomed to for over 100 years, may be replaced . The lithium-ion battery is becoming increasingly cheaper to manufacture making it near competitive with our more familiar engine design. The cost of Lithium-ion batteries has decreased 65 percent since 2010, back when they cost over $1,000 per kilowatt-hour. These batteries now cost under $350 and some companies are finding ways to produce them for even less. Many predict that lithium-ion batteries will be cost competitive with internal combustion engines once the new age batteries are as cheap as $100 per kilowatt-hour, a plausible figure for 2020. RW Baird estimates Tesla pays significantly less than the rest of the market for their batteries, somewhere between $150-200 per KWh. Companies that can manufacture lithium-ion batteries at […]